BA:World oil prices eased again after concerns over European and US economic situations continued to worry investors
World oil prices eased again Wednesday after concerns over European and US economic situations continued to worry investors.
In early Asian trade, light sweet crude for October delivery was seen trading at $86.41 a barrel at 12.00 noon Singapore time while London’s Brent crude was at $110.23 a barrel on the ICE Exchange.
Analysts said sentiment remained weak after Italy was slapped with a sovereign debt rating downgrade, and before the US Federal Reserve's latest meeting.
They added that the black Gold is also pressured after American Petroleum Institute said supplies rose 2.57 million barrels last week.
US Energy Department will release its weekly report later Wednesday.
On Tuesday, oil prices rebounded from recent sharp falls as New York's main contract, light sweet crude for delivery in October, added $1.08 to $86.78 a barrel.
Brent North Sea oil for November rose $1.46 to $110.60 a barrel in late morning London deals
